AR U DINIC Kimmel, Financial Accounting, Se Problem 7-ORA Sheffield Corp. prepares monthly cash budgets. Here are relevant data from operating budgets for 2022 Sales Purchases Salaries Administrative expenses Selling expenses January $361,100 121,900 83,200 20,900 78.200 February $401,900 130.000 $1,800 74,300 87.600 0 All sales and purchases are on account, Budgeted collections and disbursement data are given below. All other expenses are paid in the month incurred. Administrative expenses include $1.500 of depreciation per month Other data 1. Collections from customers January $331,700; February $378,200 2. Payments for purchases: January $105,400; February $143.600 3. Other receipts: January: collection of December 31, 2021, notes receivable $19.000. February proceeds from sale of securities $6,200 4. Other disbursements: February $12,400 cash dividend. The company's cash balance on January 1, 2022, expected to be $47,000. The company wants to maintain a minimum cash balance of 35.400 Prepare a cash budget for January and February (Do not leave any answer field and Enter for amounts) SHEFFIELD CORP. Cash Budget For the two months Ending February 18, 2022 Beginning cash balance Add : Cash receipts SHEFFIELD CORP. Cash Budget For the Two Months Ending February 28, 2022 : January February Beginning cash balance 47000 47000 Add :: Cash receipts Sale of securities Collections from customers 331700 378200 Notes receivable Total receipts Total available cash Less : Cash disbursements Salaries 361100 401900 Selling expenses 78200 87600 Administrative expenses 70900 74300 Purchases 121900 130000 Dividends Total disbursements Dividends Total disbursements Add : Borrowings LessRepayments Ending cash balance LINK TO TEXT Question Atter